Harbour Center At Aventura Office Complex Sells For $93 Million

Real estate investor and motivational speaker Grant Cardone bought the Harbour Centre at Aventura office complex for $93 million.

Cardone bought the offices at 18851 Northeast 29th Avenue, next door to his 10X headquarters. He envisions merging the two properties into a walkable mixed-use campus with affordable housing, he said. City National Bank in Miami provided a $65 million acquisition loan.

The seller was Aventura Harbour Borrower LLC, linked to Irving, Texas-based C-III Capital Partners, records show.

The building may be redeveloped with apartments, and employees at the property would move into the newly acquired offices as vacancies become available, he said.

The mixed-use redevelopment is a long-term vision that would need city approval. “It’s just an idea right now,” he said.

In the short term, Cardone plans $12 million for tenant space and common area improvements at Harbour Centre. It will be rebranded as The 10X Center.

The property includes an 11-story building with floor-to-ceiling glass windows, a garage and a one-story building, all on 3.8 acres. Tenants include UBS, Brilliant | Rothenberg Orthodontics, IberiaBank and Intrinsic Solutions notary.


Source:  The Real Deal


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